By Zakir Hussain
The pharmaceutical industry is one of the most important sectors in the world, and with the increasing use of digital technology, cyber security solutions are becoming increasingly important. In 2023, pharma companies need to be aware of the biggest cybersecurity threats that could cause them to suffer financial losses and reputational damage. Cyber security
solutions can help protect pharmaceutical companies from malicious actors and provide them with peace of mind knowing that their data is secure. The most common cyber threats that pharma companies should be aware of, such as phishing attacks, ransomware attacks, data breaches, and malicious code injection.
Few are the cybersecurity challenges to be aware off:
A breach can come from any direction or be a combination of factors. When you have privileged access to sensitive information, it’s important to know that your security practices are in place and working so that you can trust the integrity of what you provide to your customers. A bad actor could get inside your network and use that access for their own benefit or to harm one of your clients. Even when an employee leaves a company, there may be negative emotions harbored by someone who left on bad terms, leading them down a path of vengeance against their former employer. The best way to prevent this from impacting on your business is to anticipate it and put measures in place. Implementing a robust monitoring program will identify bad actors and flag suspicious activity.
Human error is one of the top cybersecurity threats facing any organization. Although you can build a robust security infrastructure and train your employees in proper threat mitigation, most data breaches still result from human error–including phishing scams and phishing links, spoofing email addresses and attachments, malicious links on webpages, etc.
The cloud is a powerful tool for organizations looking to maximize their efficiency and increase their productivity. But it’s also a double-edged sword when it comes to protecting your data. In fact, 27% of organizations using the public cloud reported a breach in the last 12 months.
In today’s digital world, it’s not just the hackers who are after your data. Cybercriminals have also made it a priority to disrupt your business by targeting IoT devices such as printers, cameras, and lighting fixtures. It doesn’t matter if you use an old industrial wireless router or a state-of-the-art IPSec VPN or Access Point – attackers will still find ways to breach your network and access sensitive business data through vulnerable connected devices. Ransomware is a type of malware that takes control of the victim’s computer and encrypts files, demanding payment in exchange for a key to decrypt them. A ransom
may be requested no matter what type of file loss occurs, from losing data due to ransomware infection or human error, or machine failure as in a hardware malfunction.
As bad actors become more sophisticated and confident, you can expect them to target more important targets. In 2023, expect to see more attacks on businesses associated with critical infrastructure. An attack of this nature also leads to one of the most devastating cybersecurity incidents. Cybersecurity is a top concern for businesses. With the rise of cyber-attacks, the cost of a cybersecurity breach has never been higher. A proactive approach to cybersecurity can help your business avoid these costs, but only if you plan ahead. Understanding the threats on the horizon will help your account for them in your processes to stay one step ahead of attackers.
(The author is a Director, BD Software Distribution Pvt. Ltd. Views expressed are personal and do not reflect the official position or policy of the FinancialExpress.com.)